WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing. |
was notified by the NASDAQ Stock Market (NASDAQ) on July 1, 2016,
that the bid price for the Companys Class A Common Stock was not
in compliance with the minimum bid price requirement of NASDAQ
Marketplace Rule 5450(a)(1) (the Rule) for continued listing. At
that time, NASDAQ gave the Company 180 calendar days, or until
December 28, 2016, to regain compliance.
of its stock from the NASDAQ Global Select Market to the NASDAQ
Capital Market. The NASDAQ Capital Market is a continuous trading
market that operates in substantially the same manner as the
NASDAQ Global Select Market and listed companies must meet
certain financial requirements and comply with NASDAQs corporate
governance requirements.
application. This transfer was effective at the opening of
business on Wednesday, December 28, 2016. The Companys common
stock has continued to trade under the symbol WSTL. On December
29, 2016, NASDAQ approved an additional 180 calendar day
compliance period to regain compliance with the minimum bid
requirement. The Company has until June 26, 2017, to demonstrate
compliance with the minimum bid price requirement for continued
listing.
A Common Stock and may, if appropriate, consider implementing
available options to regain compliance with the minimum bid price
requirement under the NASDAQ Listing Rules.
the approval to list its securities on the NASDAQ Capital Market
and the additional 180 calendar day grace period for compliance.
The full text of this press release is attached hereto as Exhibit
99.1 and incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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3, 2017
About WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL)
Westell Technologies, Inc. is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG). The Company’s segments are engaged in the design, development, assembly, and marketing of a range of products and solutions. The IBW segment solutions include distributed antenna systems (DAS) conditioners, digital repeaters and bi-directional amplifiers (BDAs), and system components and antennas, all used by wireless service providers and third-party hosts to fine tune radio frequency (RF) signals. The Company’s intelligent site management solutions include a suite of remote monitoring and control devices. WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) Recent Trading Information
WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) closed its last trading session up +0.004 at 0.654 with 198,151 shares trading hands.
